(Alexei Druzhinin, Sputnik, Kremlin Pool Photo via AP)
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China’s credit card processor has refused to work with banks in Russia for fear of being targeted by sanctions over its war on Ukraine, cutting off a possible alternative after Visa and Mastercard stopped serving them, according to the Russian news outlet RBC.
American officials have warned that governments or companies that try to undermine sanctions will face consequences. RBC said UnionPay wanted to avoid such “secondary sanctions.”
